ANZ announces mortgage rate changes

The largest home loan lender has reduced two of its 'special' fixed interest rates

ANZ announces mortgage rate changes
New Zealand's largest home loan lender has reduced two of its “special” fixed mortgage rates.

ANZ has trimmed -6 bps off its two year “special” to 4.69%, and it has added a new “special” for a three year term, setting the rate at 4.99%, a report from interest.co.nz said.

According to the report, the three year rate involves a -60 bps drop from their standard rate to 5.49%.
The ANZ “specials” will be available to customers with at least 20% equity in their property. Clients will need an ANZ transactional account, with their salary direct credited, and at least one other ANZ product (like insurance, or a credit card, and the like).

SBS Bank also reduced its two year “special” to 4.69%, a -10 bps drop, BNZ increased its two year “special” from 4.69% to 4.75%.

“Maybe BNZ has been looking at the recent swap rate changes and seeing these rising over the past few weeks. The two year swap rate is currently at a six week high. Rates for longer terms are gaining faster,” interest.co.nz said.


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